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| Banks must ‘make good’ on customers’ funds lost to fraud: BNM |
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Posted by: superadmin - 10-28-2021, 09:06 PM - Forum: Business. Economy and Investment
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KUALA LUMPUR – Banks are obliged to reimburse funds lost to fraudulent transactions that were not due to the fault of the affected customers, Bank Negara Malaysia (BNM) has indicated.
Responding to the case of a customer relations manager allegedly siphoning millions in clients’ savings, the central bank said it may also take additional supervisory and enforcement actions on the financial institution if warranted.
“Banks will make good on monies that are lost due to fraudulent transactions not attributed to depositors,” it said in a statement to The Vibes.
“In this regard, BNM will ensure that this incident is addressed promptly and fairly.”
On Monday, Bukit Aman Commercial Crimes Investigation Department director Datuk Mohd Kamarudin Md Din had said seven police reports have been lodged over criminal breach of trust (CBT) involving at least RM4 million allegedly embezzled by a bank’s customer relations manager.
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| Deputy minister admits certain parties politicising Timah issue |
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Posted by: superadmin - 10-28-2021, 09:03 PM - Forum: Politics
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KUALA LUMPUR – Timah whiskey did not face any public or government opposition when it was registered in 2019, but only came into the spotlight after certain parties politicised the issue, the Dewan Rakyat was told.
This was the admission made by Deputy Domestic Trade and Consumer Affairs Minister Datuk Rosol Wahid when responding to questions raised by lawmakers today.
He added that the whiskey brand was registered for trademark with the Intellectual Property Corporation of Malaysia (MyIPO) a few years ago, following which its application was displayed in the public sphere for two months.
“However, there was no objection made to the name then. This means that, by law, the name is valid. However, there was a bit of havoc and concern recently, and I agree that certain people are taking advantage.
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| Pandora Papers case needs swift govt action – Transparency International Malaysia |
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Posted by: superadmin - 10-28-2021, 08:58 PM - Forum: Politics
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TRANSPARENCY International Malaysia (TI-M) urges the government, helmed by Datuk Seri Ismail Sabri Yaakob, to keep its focus on the reform agenda and the ultimate goal of the National Anti-Corruption Plan – fighting corruption to ensure economic prosperity for the nation.
In doing so, TI-M implores the government to demonstrate its will and commitment in this regard by taking appropriate and immediate action within its jurisdiction on the information revealed in the Pandora Papers.
The government must distance itself from – and take stern action against – all individuals and organisations involved in corruption, money laundering, capital flight, and possible misuse of public funds such as that revealed in the 1Malaysia Development Bhd mega scandal.
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| How the Netherlands is turning its back on natural gas |
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Posted by: superadmin - 10-27-2021, 08:00 PM - Forum: Environment Protection News
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Natural gas has provided the Netherlands with cheap heat for generations. As the country's largest gas field slowly closes down, a wealth of clean alternatives are opening up to keep homes warm.
Gerrit Biert's feet have never been so warm. Leaning out of his doorway to point out new gas-free construction in his village, he keeps them planted inside. "It's wonderful," he says of his low-carbon underfloor heating, a recent addition in his rented house. "And completely off-grid."
A housing company tore down then rebuilt his home last year as part of a larger project on several streets in the village of Loppersum in Groningen, a northern province in the Netherlands. Biert is especially proud that the rebuild has allowed him to come off the natural gas network. "I have nothing to do with gas anymore," he says.
The effort to disconnect from fossil fuels in Loppersum is noteworthy, given its location. The village sits atop the largest deposit of methane, or natural gas, in Europe. The giant reservoir stretches under almost the entire province of Groningen and has fed the country's gas boilers, electricity plants and heavy industries since the 1960s. But eventually the extraction caused the ground beneath the province to sink. As a result, earthquakes have increased in force and frequency across the north in the last few decades, damaging many of the homes.
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| Health risk from eating Malaysian biscuits, crackers is low: health DG |
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Posted by: superadmin - 10-27-2021, 06:40 PM - Forum: Health News
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KUALA LUMPUR – The health risk from consumption of all three popular biscuit and cracker brands in the country is low, said Health Director-General Tan Sri Dr Noor Hisham Abdullah today.
In a statement today, Dr Noor Hisham said the call was based on the risk assessment conducted by the Health Ministry on the content of acrylamide and glycidol in the said products from Hup Seng, Jacobs, and Julie’s, which are manufactured in the country.
“The monitoring conducted by the ministry through its Food Safety and Quality Division since 2015 found that the average level of acrylamide was 246 μg/kg (microgramme per kilogramme) which was below the benchmark level set by the European Union Commission regulations, which was 350 μg/kg.
“The division also conducted a risk assessment on the acrylamide and glycidol in the products and the health risk from both substances through the consumption of biscuits is low,” he added.
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| French Open: Shuttlers Peng Soon-Liu Ying advance to second round |
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Posted by: superadmin - 10-27-2021, 06:35 PM - Forum: Badminton
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KUALA LUMPUR, Oct 26 — Malaysian independent mixed doubles pair, Chan Peng Soon-Goh Liu Ying managed to avoid a repeat of their Denmark Open first-round heartbreak to advance to the second round of the French Open today.
The 2016 Rio Olympic silver medallists edged Dhruv Kapila-N.Reddy Sikki of India 21-19, 21-19 in the opening round at the Pierre de Coubertin Stadium, Paris.
The fifth-seeded pair, who faced a shock elimination in the hands of Chang Tak Ching-Ng Wing Yung at Odense last week, however, missed the chance for a revenge match against the Hong Kong shuttlers Tak Ching-Wing Yung who lost 21-15, 17-21, 18-21 to Japan’s Yuki Kaneko-Misaki Matsutomo in another match.
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| Now, Sanusi wants RM100mil a year for ‘lease’ of Penang |
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Posted by: superadmin - 10-27-2021, 03:57 PM - Forum: Politics
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ALOR SETAR: Kedah menteri besar Muhammad Sanusi Md Nor, known for his run-ins with the Penang state government, has done it again – he is now demanding RM100 million a year as “lease payment” for Penang island and Seberang Perai.
Sanusi said he wanted the honorarium the federal government has been paying on Penang’s behalf to be raised by RM90 million.
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| China releases action plan to peak carbon dioxide emissions before 2030 |
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Posted by: superadmin - 10-27-2021, 03:32 PM - Forum: Environment Protection News
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The State Council, China's cabinet, has released an action plan to peak carbon dioxide emissions before 2030.
The plan puts forward China's main objectives for the 14th Five-Year Plan period (2021-2025) and the 15th Five-Year Plan period (2026-2030), including increasing the share of non-fossil energy consumption, improving energy efficiency and reducing carbon dioxide emissions.
By 2030, the share of non-fossil energy consumption will be around 25 percent, and carbon dioxide emissions per unit of GDP will drop by more than 65 percent compared with the level registered in 2005, according to the plan.
As the world's largest developing country, China is still in the industrialization and urbanization stage and faces the heavy task of developing its economy and improving its people's livelihoods, so energy consumption will continue to grow, an official with the National Development and Reform Commission said in response to media queries.
China's carbon peak and neutrality goals are fully in line with the goals and requirements of the Paris Agreement and demonstrate the country's ambition, the official said.
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| Commentary: Washington should stop politicizing market economy rules |
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Posted by: superadmin - 10-27-2021, 03:28 PM - Forum: Business, Economy and Investment
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BEIJING, Oct. 27 (Xinhua) -- Common sense teaches that a market economy always features openness, fairness and the principle of non-discrimination. However, in recent years, those rules have been largely abused by the United States as a political tool to rake in self-interests in global competition.
The United States always proclaims itself as a champion of market rules. Yet when Washington feels its economic and technological supremacy is under threat, it will invariably choose to bully foreign companies under the pretext of "national security."
Such politicized practice has already become its regular tactics. Late last month, the U.S. Federal Communications Commission (FCC) announced a 1.9 billion-dollar program to reimburse mostly rural U.S. telecom carriers for removing network equipment produced by Chinese companies including Huawei and ZTE Corp, citing the platitude of "national security threats."
The move is yet another episode of Washington's smear campaign against Chinese tech companies as there is no solid evidence to support its accusations. The so-called "national security" is no more than a clumsy political cover for its economic bully and protectionist impulses.
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